PAX

PAX — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

ModelIntrinsic Valuevs Price ($13.13)
DCF$-1.27-109.7%
Graham Number$7.74-41.1%
Reverse DCF
DDM$12.36-5.9%
EV/EBITDA$31.47+139.7%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: —
Rev: -15.4% / EPS: -37.6%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-1.27
Current Price$13.13
Upside / Downside-109.7%
Net Debt (used)$84.80M
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$-1.27$-1.27$-1.27$-1.27$-1.27
8.0%$-1.27$-1.27$-1.27$-1.27$-1.27
9.0%$-1.27$-1.27$-1.27$-1.27$-1.27
10.0%$-1.27$-1.27$-1.27$-1.27$-1.27
11.0%$-1.27$-1.27$-1.27$-1.27$-1.27

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $0.68
Yahoo: $3.91

Results

Graham Number$7.74
Current Price$13.13
Margin of Safety-41.1%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$13.13
Implied Near-term FCF Growth
Historical Revenue Growth-15.4%
Historical Earnings Growth-37.6%
Base FCF (TTM)
Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Yahoo: $0.60

Results

DDM Intrinsic Value / share$12.36
Current Price$13.13
Upside / Downside-5.9%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $169.04M
Current: 12.9×
Default: $84.80M

Results

Implied Equity Value / share$31.47
Current Price$13.13
Upside / Downside+139.7%
Implied EV$2.18B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$1.92B-$915.20M$84.80M$1.08B$2.08B
8.9x$51.37$36.34$21.30$6.27$-8.76
10.9x$56.45$41.42$26.39$11.35$-3.68
12.9x$61.53$46.50$31.47$16.44$1.40
14.9x$66.61$51.58$36.55$21.52$6.48
16.9x$71.70$56.66$41.63$26.60$11.57